Rhodes Food, ZAE000191284

Rhodes Food stock joins Premier after a March takeover

Published on 09/28/2026 at 09:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Rhodes Food stock is now part of Premier Culinary after the March 30, 2026 acquisition. A Tulbagh closure plan involves 424 employees and a 90% export business.

Rhodes Food, ZAE000191284, Illustration mit AI erstellt.

Rhodes Food stock (ISIN ZAE000191284) is now part of Premier Culinary after Premier completed its acquisition of RFG Holdings on March 30, 2026. The transaction has shifted the investment story from a standalone food producer to an integrated business inside Premier Group.

Premier sets the new direction

According to Sharenet on September 15, 2026, Premier expects revenue for the six months ending September 30, 2026, to increase by 35% to 45% following the RFG acquisition.

The same trading statement sets expected EPS at 681 to 736 cents, compared with 558 cents for the prior comparative period, while HEPS is forecast at 683 to 739 cents versus 560 cents previously. Premier also issued 37,537,431 additional ordinary shares as part of the acquisition.

Tulbagh adds an operating risk

The former Rhodes food portfolio also carries a concrete restructuring issue. IOL reported on September 16, 2026, that Premier had started a Section 189 consultation involving 424 employees at the Fruit Processing Western Cape facility in Tulbagh.

The facility exports 90% of its production, making the proposed closure relevant to supply relationships as well as employment. Premier says the decision reflects structural pressure in the global fruit-canning industry, while the Competition Commission is investigating whether the proposed retrenchments comply with merger conditions.

The merger approval on March 6, 2026, included a three-year moratorium on merger-related retrenchments. Premier has said the Tulbagh process is driven by operational economics and is separate from the transaction, a position reported by Sharenet in the September 15, 2026 trading statement.

Acquisition defines the stock story

For Rhodes Food investors, the key change is structural: RFG has been integrated into Premier Culinary, while the group is targeting a 35% to 45% revenue increase and 22% to 32% EPS and HEPS growth for the September 2026 half year. The Tulbagh decision remains the clearest operating counter-factor to that growth profile.